Adani Enterprises Divests Joint Venture Stake Through Subsidiary for Rs 5 Lakhs
Adani Enterprises announced the divestment of its joint venture stake through subsidiary Kutch Copper Limited, which sold its complete 50% shareholding in Praneetha Ecocables Limited for Rs 5 Lakhs on March 2, 2026. The transaction was conducted as a related party deal at arm's length basis with full regulatory compliance under SEBI regulations.
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Adani Enterprises Limited has announced the divestment of its joint venture stake through its wholly owned subsidiary, marking a strategic restructuring of its business portfolio. The transaction was completed on March 2, 2026, involving the sale of the company's entire stake in Praneetha Ecocables Limited.
Transaction Details
Kutch Copper Limited (KCL), a wholly owned subsidiary of Adani Enterprises, divested its complete 50% shareholding in Praneetha Ecocables Limited (PEL) on March 2, 2026. The company received intimation of the transaction at 5:27 P.M. IST on the same day, with PEL ceasing to be a joint venture of KCL.
| Parameter: | Details |
|---|---|
| Stake Divested: | 50% (50,000 shares) |
| Consideration Received: | Rs 5 Lakhs |
| Transaction Date: | March 2, 2026 |
| Buyer: | Praneetha Ventures Private Limited (PVPL) |
Financial Performance of Divested Entity
Praneetha Ecocables Limited showed minimal financial activity in the previous financial year. The company's financial position as on March 31, 2025, reflected no operational income or net worth.
| Financial Metric: | Amount |
|---|---|
| Income (as on March 31, 2025): | Nil |
| Net Worth (as on March 31, 2025): | Nil |
Buyer Information and Related Party Aspects
Praneetha Ventures Private Limited (PVPL) acquired the divested stake and now holds 100% ownership in PEL. The company clarified that PVPL does not belong to the promoter or promoter group of Adani Enterprises. However, both PVPL and PEL are described as part of business adjacencies and ecosystem, similar to other AEL businesses such as the vendor ecosystem for Adani New Industries Limited.
The transaction was identified as a related party transaction, with PVPL being a related party of KCL. Adani Enterprises confirmed that the divestment was conducted on an arm's length basis, ensuring compliance with regulatory requirements.
Regulatory Compliance and Disclosure
The divestment was disclosed in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formal intimation was sent to both BSE Limited and National Stock Exchange of India Limited, with comprehensive details provided as required under SEBI Listing Regulations and SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026.
| Regulatory Aspect: | Details |
|---|---|
| BSE Scrip Code: | 512599 |
| NSE Scrip Code: | ADANIENT |
| Disclosure Regulation: | Regulation 30 of SEBI LODR |
| Transaction Nature: | Related party transaction at arm's length |
The completion of this divestment represents a strategic business decision by Adani Enterprises to optimize its subsidiary portfolio and joint venture arrangements, with full regulatory compliance maintained throughout the process.
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